CIBM Bank $600 Business Checking Bonus
CIBM Bank is offering up to a $600 bonus for new customers who open a Basic Business Account. Before you continue any further, you should know that you need to visit a branch to open an account, or possibly via phone, and it is available to IL, IN and WI residents only. Check out the details below.
How to Earn This Bonus
Here’s how it works:
- To qualify for the $600.00 bonus, the new account must reach a minimum balance of $25,000 within the calendar month of account opening or the calendar month following account opening and maintain the minimum balance of $25,000.00 in each of the three calendar months following the month of account opening.
- To qualify for the $300.00 bonus, the new account must reach a minimum balance of $10,000 within the calendar month of account opening or the calendar month following account opening and maintain the minimum balance of $10,000.00 in each of the three calendar months following the month of account opening.
Bonus(es) will be paid within 150 days of account opening provided specific requirements per bonus have been met. Account must be open and have a balance greater than zero when the bonus is paid. Cash bonus considered interest/income and reportable on IRS Form 1099-INT or 1099-MISC.
Are You Eligible?
Here are the eligibility details for this bonus:
- Offer available in IL, IN, WI only.
- Customer is limited to one bonus per account and one account per customer.
- Offer not available for existing CIBM Bank business checking account holders or those who have closed a CIBM Bank business checking account within the past 12 months.
Account Fees
- The Basic Business Account has no monthly fee.
- Accounts closed within 6 months of opening date are subject to a $25.00 closing fee.
Guru’s Wrap-Up
CIBM Bank is offering a bonus of $300 or $600 for a new Basic Business Account. In order to get the bonus, you must deposit $10K or $25K and keep that balance in the account for about two to three months. You need to each the threshhold within the second month and keep the money in the account through the fourth month after account opening.
While you would be missing out on some interest on these large amounts, this still works out to a good deal for three months. You would be earning around 10% or more with either deal.
Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. You can also access bonuses available in your state by visiting dannydealguru.com/tag/IL-bank-bonus/. Just replace IL with your state or with “nationwide”.
And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
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Link & Full Details
- OFFER PAGE
- Max Bonus: $600
- Account Type: Basic Business
- Availability: IL, IN, WI
- Type of Inquiry: Soft pull
- Direct Deposit Requirement: None
- Other Requirements: $10K or $25K deposit for 2-3 months
- Credit Card Funding: Unknown
- Monthly Fee: None
- Early Account Closing Fee: $25
- Expiration Date: 3/31/26
HT: Doctor of Credit
